Fosun International’s profits climb 24pc

Shanghai-based conglomerate Fosun International posted 6.85 billion yuan (HK$8.55 billion) in profits for 2014, up 24 per cent year on year, the company said.

Revenues hit 61.7 billion yuan and Fosun proposed a dividend of HK$0.17 a share.

Fosun’s insurance business contributed greatly to revenues last year, becoming the largest earner among financial services, replacing asset management. Profits from the insurance business jumped by 57 per cent to 2 billion yuan.

The conglomerate’s property development business remained the biggest profit generator, bringing in 2.52 billion yuan last year, a 20 per cent increase.